Car Dealers P2P Marketplace

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The Story

How does the automotive market work? Well, that depends on where you live. The market is extremely different in different parts of the world. Let me give you an example, in Europe, if you buy a used car, that's it. If it breaks down on your way home from the dealer, that's it. In the US and Canada, the game is different, the buyer has way more protection. This means that when a dealer buys a car from a dealer (this is a common practice since you should not sell the used car you bought in the same city), you have to be very careful. That's just one thing, there are so many more. To summarise, when buying and selling cars between dealers, here are some of the problems you need to solve:

  • Quality control, is the specs for the car correct?

  • Price, who can pay the most?

  • Who is responsible for returns?

  • How will the returns be handled?

  • Who handles insurance?

  • And much much more.

 

The core objective of the platform we built was to solve the identified problems related to dealer-to-dealer trading in the automotive industry while bringing a lot more convenience and automation to the process.

The Solution

So, the idea was to create an online marketplace where dealers can meet, look at each other's cars, and if interested sell them to each other. This of course backed by a solution that takes away as much risk as possible by making sure all the required information is in there. So a car is presented, with that car, all the documents (both informative and what is required by law and insurance companies).

 

After identifying what information have to go where (this is a lot) to make sure that every party in the transaction feels safe, we could build a marketplace for this. By using our marketplace platform as a base, we could create a very smooth and efficient way for the dealers to buy and sell cars. 

Let me give you an example:

 

Dealer A needs a couple of sedans. The dealer browses the marketplace and finds a dealer that have some interesting cars, the dealer can see the cars, inspect the documentation, evaluate the cars and estimate the value.

The dealer then places the bid for four sedans to Dealer B.

Dealer B looks at the bid and gives a counteroffer.

Dealer A accepts the counteroffer and receives a formal offer. This is accepted.

 

Both Dealer A and Dealer B are very happy.

 

The provider of the solution is also happy since the provider charges 10% of the transaction.

 

But what if something goes wrong, and it does, it is estimated that in about 8% of the transactions there is a dispute, this sounds like a hostile thing, but this is normal, part of the business.

 

Now the dispute have to be handled. And this is where the platform really shines.

 

Since all the data is in the platform, the dispute can easily be solved. You just have to look at the information provided and see who is “right” about the dispute. The problem is that it can be a lot of information, so you have to have a good way of viewing the information so a dispute doesn't cost too much to handle.

 

This was solved by pulling all needed data from the platform into SalesForce. By doing this, the dispute handler can easily look at the information, propose a solution and wait for acceptance,  if needed, this can happen several times for each dispute.

 

By using SalesForce helpdesk much of the manual work can be eliminated and the cost for each dispute kept as low as possible.

The Outcomes

  • Extremely efficient marketplace for dealers to meet.

  • A flexible solution that can be expanded when the market changes.

  • Reliable back-end on top of AWS using the microservices architecture.

  • Secure and PCI-compliant solution.

  • The platform can serve more customers while being faster and more reliable.

  • Can be crafted to meet the demands of more clients with less coding work involved.

  • API to handle future apps.

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hello@velmie.com

650-353-7636